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Lake City parent's quarterly earnings up 22%

Lakeland Financial Corp. today reported record second-quarter earnings of $11.3 million, or 68 cents per diluted common share, a 22 percent increase from the $9.2 million, or 56 cents a share, posted for the same three months of 2013.

The Warsaw-based holding company for Lake City Bank did not set aside money for the fund that covers bad loans in either second quarter.

David Findlay, president and CEO, is bullish on the economy and the company's role in it.

"The best way for Lake City Bank to support economic expansion in our Indiana markets is to continue to make loans to local businesses," he said in a statement. "We've grown loans by $138 million through the first six months of 2014 and are encouraged by the improving strength of the economy in our markets."

sslater@jg.net

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